LGIM Real Assets launches €95.3m retail scheme in Eastbourne (GB)

LGIM
LGIM

LGIM Real Assets has launched a new €95.3m (£85m) retail and leisure extension which forms part of Legal & General’s €246.6m (£220m) retail and leisure scheme, formerly known as the Eastbourne Arndale Centre. The extension has been an important catalyst for the wider regeneration across the town and is primed to create a further 570 jobs, driving continued economic and social growth. The launch also marks the full switchover from the Eastbourne Arndale Centre to being rebranded as The Beacon.

Schuh, New Look, Flying Tiger and Paperchase all opened their doors with Jack Wills also due to open early December, following on from Next, H&M and Fat Face who opened in October. Premier League Football Club Brighton & Hove Albion will also open a temporary shop in the extension until December 23. The second phase of the retail and leisure extension will follow in April 2019, when Cineworld, Ask, Nandos, Chiquitos, Frankie & Benny’s and high-end jeweller, Brufords, will open for trade.

To date, agreements have been exchanged on over 70% of the total extension floor area. Alongside investment in The Beacon, Eastbourne Borough Council is delivering The Devonshire Quarter, a €60.5m (£54m) project to create a top cultural, sporting and conference destination and is also carrying out major highway improvement works in partnership with East Sussex Council. These works continue to underpin economic growth within the area, as one of the fastest growing seaside towns in the UK. Legal & General and the Council have worked in close collaboration to support this growth, proactively bringing new initiatives forward which will benefit regeneration within the town.